8,643.88 TRY BIST 100 BIST 100
4.87 CNY CNY CNY
34.34 USD USD USD
37.42 EUR EUR EUR
0.13 CNY CNY/EUR CNY/EUR
45.07 TRY Interest Interest
75.11 USD Fossil Oil Fossil Oil
32.50 USD Silver Silver
4.45 USD Copper Copper
102.15 USD Iron Ore Iron Ore
374.00 USD Shipbreaking Scrap Shipbreaking Scrap
3,026.19 TRY Gold (gr) Gold (gr)

Price increase has a positive impact on Stalprodukt electrical steel earnings

Stalprodukt maintains its forecast for a correction in electrical steel sheet prices in the first half of 2023 from the high base in 2022.

Price increase has a positive impact on Stalprodukt electrical steel earnings

Earnings at Stalprodukt's electrical steel division improved in the first quarter compared to the same period last year on the back of higher prices, while tonnages shipped were unchanged.

Divisional revenue increased by 10 per cent y-o-y to PLN 438.3 million ($103.8 million), while divisional profit increased by 9 per cent to PLN 109.7 million.

The company's profile division reported a 34% decrease in shipments, without providing tonnage information. This was due to a significant decrease in demand and prices for these products.

The division's revenue decreased by 40% to PLN 191.3 million, resulting in a loss of PLN 16 million compared to a profit of PLN 15.9 million a year earlier.

The company's consolidated revenue in the first quarter, including the zinc division, decreased by 12% y-o-y to PLN 1.298 billion, while net profit decreased by 23% to PLN 116.4 million.

In full-year 2022, Stalprodukt's sales of electrical steel sheet decreased by 0.5% y-o-y to 118,815 tonnes. Sales of cold-formed profiles and tubes decreased by 10% to 137,876 tonnes.

Comments

No comment yet.

Only +plus subscribers can access this content.

SUBSCRIBE now to share your thoughts on the markets and get more comments.
SUBSCRIBE If you already have an account Sign In

Most read news

Kazakhstan government extends ban on scrap exports

Tuesday, November 5, 2024

Thyssenkrupp Steel Europe plans to renovate Duisburg plant

Tuesday, November 5, 2024

Türkiye's iron and steel export value was 7.8 billion USD in January-September period

Tuesday, November 5, 2024

European Commission approves EUR 724 million in funding towards Denmark

Tuesday, November 5, 2024

Indonesia's coal production targets under threat

Tuesday, November 5, 2024
Follow List
Expand
Your watch list is empty

Add your favorite commodities for quick access and don't miss the latest price change news.


There are no news categories you follow
Edit Notification Preferences
E-bulletin subscription
Sign up to receive the latest news and daily iron prices by e-mail and sms
Become a Plus Subscriber Now!
Try it free for 3 days!
Subscribe Now
Neutral Prices
Be informed
Provincial Iron Prices
Comments and Analysis
Subscribe Now